UNITED WHEELS UK LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

UNITED WHEELS UK LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 12936853 . The registered office is 15 Doolittle Mill, Froghall Road, Ampthill, Bedfordshire, MK45 2ND.

2. Accounting Policies

2.1. Early Adoption of Amendments to FRS 102 (Periodic Review 2024)

The company has early adopted the amendments to FRS 102, arising from the Financial Reporting Council's Periodic Review 2024, issued in March 2024. These amendments are effective for accounting periods beginning on or after 1 January 2026, but the company has elected to apply them in these financial statements for the year ended 31 December 2025.

The amendments primarily affect the company's accounting for lease accounting.

Further details of the transition and the effect on the financial statements are provided in the notes.

2.2. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.3. Going Concern Disclosure

The Company incurred a loss before taxation of £2.3 million during the year ended 31 December 2025 and, as at that date, had net current liabilities of £4.9 million and net liabilities of £8.6 million.

In assessing the appropriateness of the going concern basis of preparation, the directors have reviewed the Company's cash flow forecasts and trading projections covering a period of at least twelve months from the date of approval of these financial statements. These forecasts take into account expected trading performance, working capital requirements and funding needs.

The directors have also considered the ongoing financial support available from the wider Group and have received confirmation that such support will continue to be available as required for a period of not less than twelve months from the date of approval of these financial statements.

Based on the forecasts prepared and the continued support of the Group, the directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing these financial statements.”

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

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UNITED WHEELS UK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% on cost
Fixtures & Fittings	20% on cost
Computer Equipment	33% on cost

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 21 (2024: 17)

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UNITED WHEELS UK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Tax on Profit

The tax credit on the loss for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	20.0%	20.0%	-	-
Deferred Tax
Deferred taxation			(559,851 )	(2,217,048 )


Total tax charge for the period			(559,851 )	(2,217,048 )

The actual credit for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	(2,255,468)	(2,312,652)

Breakdown of tax charge is:
Tax on profit at 20% (UK standard rate)	-	-
Tax losses unutilised carried forward	(559,851 )	(2,217,048 )

Total tax charge for the period	(559,851)	(2,217,048)

5. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	67,127	5,349	46,579	119,055
Additions	6,110	3,036	12,399	21,545

As at 31 December 2025	73,237	8,385	58,978	140,600

Depreciation
As at 1 January 2025	12,755	2,235	25,782	40,772
Provided during the period	7,379	1,474	7,820	16,673

As at 31 December 2025	20,134	3,709	33,602	57,445

...CONTINUED

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UNITED WHEELS UK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Net Book Value
As at 31 December 2025	53,103	4,676	25,376	83,155

As at 1 January 2025	54,372	3,114	20,797	78,283

6. Right-of-use Assets

	Land and Buildings
	£
Cost
As at 1 January 2025	-
Additions	114,292

As at 31 December 2025	114,292

Depreciation
As at 1 January 2025	-
Provided during the period	47,293

As at 31 December 2025	47,293

Net Book Value
As at 31 December 2025	66,999

As at 1 January 2025	-

7. Stocks

	2025	2024
	£	£
Stock	2,067,705	2,174,733

8. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,721,313	2,818,742
Other debtors	3,366,337	2,538,402

	6,087,650	5,357,144
Due after more than one year
Amounts owed by group undertakings	-	6,832,566

	6,087,650	12,189,710

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UNITED WHEELS UK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Lease liabilities	51,987	-
Trade creditors	6,726,429	6,459,503
Other loans	395,482	-
Amounts owed to group undertakings	3,370,220	1,954,986
Other creditors	2,072,821	1,557,473
Taxation and social security	503,566	367,731

	13,120,505	10,339,693

10. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Lease liabilities	16,512	-
Amounts owed to group undertakings	3,895,217	11,232,649

	3,911,729	11,232,649

11. Lease Liabilities

	2025	2024
	£	£
Not later than one year	51,987	-
Later than one year and not later than five years	16,512	-

	68,499	-

12. Deferred Taxation

The provision for deferred tax (Included in other debtors) is made up as follows:

	2025	2024
	£	£
Accelerated Capital allowances	(7,513)	(5,978)
Tax losses carried forward	2,777,395	2,216,010

	2,769,882	2,210,032

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UNITED WHEELS UK LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

13. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

1,000 ordinary shares of £0.001 each.

14. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15. Audit Information

The auditor's report on the accounts of UNITED WHEELS UK LIMITED for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Howard Ashmore (Senior Statutory Auditor) for and on behalf of Godfrey Laws Audit Limited , Statutory Auditor.

Godfrey Laws Audit Limited

65 Knowl Piece

Wilbury Way

Hitchin

Hertfordshire

SG4 0TY

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		83,155		78,283
Right-of-use Assets	6		66,999		-

			150,154		78,283
CURRENT ASSETS
Stocks	7	2,067,705		2,174,733
Debtors	8	6,087,650		12,189,710
Cash at bank and in hand		85,614		184,122

		8,240,969		14,548,565
Creditors: Amounts Falling Due Within One Year	9	(13,120,505 )		(10,339,693 )

NET CURRENT ASSETS (LIABILITIES)			(4,879,536 )		4,208,872

TOTAL ASSETS LESS CURRENT LIABILITIES			(4,729,382 )		4,287,155

Creditors: Amounts Falling Due After More Than One Year	10		(3,911,729 )		(11,232,649 )

NET LIABILITIES			(8,641,111 )		(6,945,494 )

CAPITAL AND RESERVES
Called up share capital	13		1		1
Profit and Loss Account			(8,641,112 )		(6,945,495 )

SHAREHOLDERS' FUNDS			(8,641,111)		(6,945,494)